A separate Scottish currency could be set up after a period of about a decade, but only if six key economic tests were met, the commission said.

The move would see the Bank of England continue to set interest rates and other monetary policy in the years after independence.

The commission also said it would take 10 years to get Scotland’s deficit rate under control, while an independent Scotland would take up to 25 years to match the economic performance of other small countries such as Denmark, Sweden, Norway and New Zealand.

The First Minister has insisted the report sets out an alternative to Westminster’s “austerity”, but the document has been criticised by some Yes supporters.

SNP depute leader Keith Brown, who will chair the event, said: “Wide-ranging and vibrant debates on the Sustainable Growth Commission, and a great deal besides, in the Highlands and in Ayrshire will be followed by the biggest event yet, today in Edinburgh.